PennyMac Financial Services (PFSI) saw its stock price plummet by 5.42% during intraday trading on Monday, following a series of analyst price target reductions.
Deutsche Bank lowered its price target on PennyMac to $150 from $164, while maintaining a Buy rating. Additionally, KBW cut its target price to $115 from $143. These downward revisions reflect analysts' adjusted expectations for the company's financial performance.
According to FactSet data, PennyMac has an average rating of overweight with a mean price target of $137.25. The simultaneous price target cuts from multiple firms likely contributed to negative investor sentiment and the stock's decline.
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